Jefferies Starts Campbell Soup (CPB) at Hold

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Jefferies initiates coverage on Campbell Soup (NYSE: CPB) with a Hold. PT $36.00.

"Even though the downside is likely limited, in our view, the co.’s turnaround is not complete and headwinds remain strong," said analyst Thilo Wrede.

"Over time, bolder innovation, better packaging and a renewed focus on marketing should give the soup business a chance to halt its multi-year decline. But at the same time, margin concerns remain, given the challenging macro environment."

For an analyst ratings summary and ratings history on Campbell Soup click here. For more ratings news on Campbell Soup click here.

Shares of Campbell Soup closed at $32.77 yesterday, with a 52 week range of $29.69-$34.58.

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